​Mid-Weekly: Investors Under-Hedged, Post Brexit Put Spreads Eyed

All eyes are firmly on the Brexit vote tomorrow, but it seems volumes in the SPX and the VIX have largely been unaffected during the lead up to the event. This is telling, with some market officials saying U.S. investors could be significantly under-hedged should a leave vote get up. Meanwhile, some participants have been looking beyond the vote and how to play the end result, including 1×2 put spreads on the SPX, and put spreads on VXX should the electorate return a remain result.